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Czech sees mid-year as right time to end currency cap -Lizal
January 18, 2017 / 10:17 AM / 10 months ago

Czech sees mid-year as right time to end currency cap -Lizal

VIENNA, Jan 18 (Reuters) - The Czech central bank still believes the right time to abandon a cap on its currency is around the middle of this year, its board member Lubomir Lizal said on Wednesday.

Analysts have estimated the central bank has stepped up its interventions activity as investors pile into the market on expectations the bank will end its cap on the value of the crown this year, causing the currency to gain.

“Under the current situation we still believe the proper time for the exit is around the mid of this year,” he told a Euromoney conference in Vienna. “The market is completely overbought in Czech koruna (crowns). The people are too much on the side of believing in the unexpected Swiss scenario.” (Reporting by Francois Murphy; Editing by Shadia Nasralla)

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